Dunkin Donuts CEO: "We Are A Beverage Company," Not A Donut Company

Dunkin Donuts, which has achieved maximum saturation in the northeast market (and iconic status in New England), is going nationwide. It is preparing for a massive West Coast expansion that will include thousands of new locations. But before it does that, its CEO Paul Carbone wanted to clear something up: He told an audience of investors and analysts at the Jeffries conference that Dunkin Donuts's main business is . . . coffee. Forbes's Clare O'Connor caught the scene. "We are a beverage company," Carbone said. "Fred the Baker is not coming back."

Fast Company wrote about Dunkin Donuts's coffee-centric strategy way back in 2004. The chain opened its first West Coast location in Las Vegas earlier this year and is planning to open 7,500 new outlets over the next few years. Carbone says many of these will be in California, which is currently solid Starbucks, Peet's, and Coffee Bean and Tea Leaf territory.